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Hey, Ross here:

Last week was a choppy one, with the market closing higher one day and lower the next – ultimately ending the week lower.

With fears of a bubble mounting, this is only adding to the negative sentiment around the market.

That’s why in times like these, it’s worth zooming out to get a clearer picture.

Chart of the Day

This is the weekly chart for the S&P 500.

Pay attention to the last two weeks, circled in white above.

The week before last was a clear “down” week, while last week was what we call an “inside” week – with the highs and lows happening within the boundaries of the previous week.

What does this mean?

Well, this is a classic compression/consolidation pattern – the possible beginnings of a healthy pullback.

And if you look at the chart you can see that the trend since the April lows is still very clear.

In other words, the long-term trend is solid.

But in the short term, the market could resolve either way.

Although the trend is slightly overheated, markets could still break out higher immediately.

For instance, this “down week followed by inside week” pattern has occurred three times since the April low…

And each time, the market resolved higher right after.

Plus, the 50-day moving average has still been holding up effectively as support.

However, like I’ve been saying, the market has been overdue for a deeper pullback (which would still be healthy).

So we shouldn’t be surprised if the market resolves lower this time, breaking below the 50-day moving average.

Regardless of which is the case, as I explain below, we shouldn’t be too worried.

Insight of the Day

All of this is still healthy bull market behavior.

To recap, the market is in a classic consolidation pattern within a clear uptrend.

The pullback could end here and the market rebound – or it could deepen further first.

No matter what happens though, at this point, all of this is still healthy bull market behavior.

The long-term trend tells us that.

And remember, we are still seeing a rotation beneath the surface – and rotations are the lifeblood of any bull market.

So, for the longer-term, I’d advise you not to worry.

But in the short-term, with the market looking like having an equal chance in resolving higher or lower?

I recommend using a strategy that can work both ways – whether the market is falling or rising.

For instance, during the painful tariff selloff in April, one strategy could have delivered a multiple triple-digit gain to members who took the trade…

And then recommended even more winning trades as the markets rebounded.

And tomorrow, Tuesday November 18, at 11 a.m. Eastern…

I’m going LIVE to walk you through this entire strategy from A–Z.

With volatility and uncertainty spiking, you don’t want to miss this.

So click here to secure your seat for my live breakdown tomorrow…

And I’ll see you Tuesday morning at 11 a.m. ET.

P.S. If you’re planning to attend on a mobile device, make sure you download the presentation app now so you don’t miss anything when it starts. See you there.

iOS: https://apps.apple.com/us/app/goto/id1465614785 

Android: https://play.google.com/store/search?q=goto&c=apps

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Embrace the surge,

Ross Givens

Editor, Stock Surge Daily